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(Sharecast News) - Revolution Beauty reported full-year revenue of 102.1m on Tuesday, down 28% from 142.6m, while adjusted EBITDA swung to an 8.2m loss from a 4.7m profit and the loss before tax widened to 30.6m from 16.8m.
However, the group returned to profitability in the second half, delivering adjusted EBITDA of 4.3m after a 12.5m first-half loss, as gross margin improved to 41.4% from 32.2% and annualised cost savings exceeded 9m.
The AIM-traded company said trading in the new financial year had started ahead of expectations, with broadly flat sales and positive first-quarter EBITDA compared with a 4.2m loss a year earlier.
Direct-to-consumer revenue rose 26%, helped by TikTok Shop, while year-end cash stood at 5.9m and net debt fell to 24.7m, with management continuing to target a return to growth, profitability and cash generation for the full year.
At 0934 BST, shares in Revolution Beauty Group were down 5.9% at 5.74p.
Reporting by Josh White for Sharecast.com.
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